Lesson for this lesson is called understanding the price myth, and it will show you how to stop underselling
yourself and start earning what you deserve.
In freelancing, you need to understand the price myth before you can become a profitable freelancer.
The price myth basically states that a company or a client will go with the freelancer with the cheapest
services.
However, this lesson is important because it's going to show you why that's not true.
And once you understand the price myth that will help you start to be a more profitable freelancer right
from the start.
So the price myth is based on the fact that people buy products just on the price.
And like I just said, that's simply not true.
So look at this picture right here.
This is a five star resort and ask yourself if you're going on vacation.
Your next vacation, your next trip, whenever that may be.
Would you rather stay somewhere like this?
Or would you rather stay somewhere like the last up first stop that has the Loose Dog on the sidewalk?
It has the white van and a couple of sketchy people standing around.
This one may be half the price of not much less than that.
But the reason you would rather stay at the other place is because of so many different reasons not
related to price.
You might say no one, while the first place looks safer and the quality of service is probably going
to be much better there.
And obviously, the value you get is going to be incredibly greater than if you stayed at this motel
right here.
So it's important to remember and to understand this as you go through this course, because you're
going to come across clients that are talking about price and you're going to come across people that
say price is the most important thing.
But this lesson is going to show you how you can understand what the price myth is and how you can move
past it to become the most profitable freelancer possible.
So the first step is not underselling yourself, most freelancers think that clients make decisions
just on price, but they really don't.
They're looking for a good price, of course, but they're also looking to get a problem that they have
solved and they're willing to pay for that.
So if you can get good at the skill you're providing and you can solve problems that add value to the
business, you're always going to be able to charge more.
As long as you're not a commodity, which means the lowest price is the one who gets the job because
the service you're providing is easily replicable.
You need to focus on services that will help you charge more because of the value you're providing.
So high ticket clients only hire freelancers that charge substantial rates.
All the jobs I get, they're all looking for expert level work.
And that's because they know that you get what you pay for.
So I'm not saying, of course, to start off at expert level.
If you're not an expert yet, you have to start small, you have to work your way up.
But as you go through your journey, remember this myth and it will help you become more successful
along the way.
Next, there is no scarcity of money.
This is also an important factor in understanding why the price myth isn't true.
There is no shortage of money on this planet, and there's more than enough money to go around for every
freelancer in the world.
There's money everywhere.
It's getting transacted all the time.
You have to think about abundance, think about Upwork and freelancing as just an ocean of endless opportunity.
And all you have to do is put in the actions, solve enough problems and you can become a profitable
freelancer.
Remember, you were in the people business no matter what you were doing, no matter what skill you're
selling, it doesn't matter.
You are working with other people.
Selling is 80 percent people and only 20 percent product or service.
People buy products that are inferior every single day.
But they work with people that they trust and they work with people that help provide value for them.
So be more interested in the buyer than you are with yourself, start to look at it and ask questions.
This makes it very clear when you're talking with the client and you're communicating with them that
you're not just in it for the money, you're also focusing on what you were going to provide for the
client.
Make the topic of conversation all about the value you are providing that will help you move past the
price myth, and it will show the client or the potential client why you are charging what you are.
Moving on.
Always agree, first, always agree with the customer.
No matter what, especially when price comes up, this is most likely going to come up on the majority
of your deals, even with me every time I close a new client.
Price and objections always come up because that is what people do.
That is what you and I do.
We look for sales.
We look for where we can get discounts if possible, because that is our human nature, that is the
society we are in.
But once you are able to prove the amount of value you're giving is worth more than the price you're
charging.
That's when the client is going to ease up and give you that opportunity.
But that's only if you agree with them first.
If you don't let them know that you understand where they're coming from and you immediately just go
into defending yourself, that is going to turn the client off and you're going to lose that potential
opportunity.
So put your ego aside for a little bit.
Agree with the client and tell them.
Let me show you why.
I charge what I do and remember you can use all of the different things I'm going to show you in the
objection section later on in this course to handle those specific objections as they come in.
People pay to have their problems solved.
So if you want a bigger paycheck, all you have to do is just have a bigger positive attitude and go
out there and solve more problems, find the business owners that are already looking for help.
That is why this course is going to help you get on track and get off the ground quicker than you ever
thought imaginable.
Because this is showing you where the people that have problems are posting jobs don't be negative.
Don't focus on things that are distracting you.
Stay focused.
Keep your circle of focus tight and make sure you're focusing on finding people that need to have their
problems solved.
That's when the money will follow next.
Selling is the act of giving.
So another reason people object to the price is because people and freelancers are victim to this a
lot.
They don't always remember where the client is coming from.
They don't always understand that it's about providing as much service as possible, putting the full
attention on the client and just providing all of this value before they've paid you anything.
That is what's going to show the client that you're willing to go above and beyond and that you're paying
so much attention to them that they feel like they're your only client or they're your only potential
client that you're speaking to.
So how do you do this?
Just give full attention to whoever you were speaking to and make sure you're focusing on giving give
them different options.
Show them urgency.
Nothing can replace poor service.
People always will remember this.
And that's when the majority of people go online to leave reviews anyway.
It's because of something bad that happened that sticks out in people's heads more than the good things.
So remember, you need to do even more than you think to provide for the client and show them that the
price you're charging is worth it.
And that's another way to get over the price myth and to understand the price myth.
Next, understanding there's always room for expert level work whenever skill you're working on.
If there's people hiring for low paying jobs, there's also going to be the other side of the spectrum.
High ticket clients that are paying for expert level work so you can always start at the bottom and
learn these skills and get hands on experience with smaller jobs and then use all of that knowledge
that you learned and then close much bigger deals with it as long as you remember the price myth.
Because once you have those skills and you develop them and you have reviews to show for them, that's
when you can package that together.
Go to a bigger client and really secure a long term relationship with them.
Always remember there's room for expert level work in every skill set, and that is ultimately where
you were going to become a profitable freelancer.
Lastly.
Price is usually the bottom of the list when it comes to what the client is looking for.
Of course, clients always have some budget in mind, but they're on the platform, they're on Upwork,
they're on these freelancing websites to get a problem that they have solved, whether that they need
more sales for their company, they need a website built, they need email marketing campaigns and copywriting
completed.
The moral is they're not on there just to spend money.
They're on there to have a problem solved.
So always remind yourself this as you're speaking to clients, as price objections come up and remember
making the decision to just provide and go above and beyond for the client.
We'll show them that price is also the last concern on your list, and once you both have that agreement
and that understanding that mutual understanding that you're both in this for the long term relationship
and you're both in this to provide value for each other, that's when you can really start becoming
the most profitable freelancer you can and earning your full potential because too many freelancers
are letting the price myth hold them back and weigh them down.
So if you still don't believe that price is just a myth, then why do some people charge this like Claudia
right here?
She's charging five fifty six an hour.
She's earned over $60000 on the platform, which is impressive.
She also has a 97 percent job success rating, so it doesn't mean that Claudia is not a good freelancer.
However, what's the difference between someone that charges this?
And someone like Camille here that's charging 197 an hour has secured 400000 on the platform and has
a 100 percent job success score.
Well, the difference lies in understanding the price myth, because the value that Camille is providing
is substantially greater than what Claudio was.
It doesn't mean that one is better than the other.
It just means the level of value they're providing clients and companies is massively different.
If Claudia over here wanted to start charging more, she would first have to understand the price myth.
So remember, everything I'm teaching you is based on my personal journey.
I'm here to save you time and these are all the key success factors that go into being a profitable
freelancer.
So remember this when you're starting out and as you progress through your journey?
You need to focus on the value you're providing.
Price is the last concern on a buyer's mind.
So now you understand the price myth and you know ways to not let it hold you down anymore.